Novus Home Mortgage
Interim Servicing Specialist
Novus Home Mortgage, Brookfield, Wisconsin, United States, 53045
The Interim Servicing Specialist is responsible for managing all activities associated with loans during the interim servicing period-from post-funding through loan sale and servicing transfer. This role ensures timely, compliant, and accurate setup, reporting, remittance, and reconciliation of loans that remain temporarily on Novus Home Mortgage's servicing portfolio before being transferred to the permanent servicer (e.g., Cenlar) or investor.
This individual will be a key liaison between internal departments (funding, post-closing, finance, compliance) and external partners (Cenlar, FNMA, FHLMC, GNMA, aggregators), ensuring data accuracy, investor compliance, and exceptional borrower experience during the interim period.
Loan Setup & Monitoring Oversee accurate loan boarding into the interim servicing platform/system. Validate data accuracy between Encompass, LOS, and interim servicing systems. Monitor closed loan pipeline to identify boarding readiness and transfer timing.
Payment Processing & Remittance Track and process interim loan payments received prior to servicing transfer. Ensure accurate application of borrower payments, escrows, and advances. Prepare and submit daily/monthly remittances to investors and custodians as required.
Escrow & Taxes Monitor escrow accounts for disbursement activity prior to servicing transfer. Coordinate timely disbursement of interim tax or insurance bills, if applicable. Ensure proper escrow balance reporting during the transfer process. Respond to inquiries from insurance companies regarding premium renewals
Investor & Subservicer Coordination Work with Cenlar and other subservicers to coordinate service transfer timelines and data validation. Manage MERS updates and servicing release transactions as needed. Collaborate with Delivery & Post-Closing to support GNMA pooling and FNMA/FHLMC certifications. Coordinate with investors and new servicers regarding post transfer issues.
Borrower Communication & Support Respond to borrower inquiries related to payments made during interim servicing. Issue interim welcome letters, payment notices, and servicing transfer notifications in compliance with RESPA and investor guidelines. Reply to borrower inquiries made through incoming calls and emails related to loan transfers and concerns with new servicer.
Reconciliation & Reporting Reconcile custodial and P&I accounts tied to interim-serviced loans. Maintain daily and monthly interim servicing reports for internal tracking and compliance audits. Ensure resolution of suspense items and unapplied funds prior to loan sale.
Compliance & Audit Support Ensure adherence to agency (FNMA, FHLMC, GNMA) interim servicing guidelines and timelines. Support internal and external audit requests for interim servicing activities and documentation. Monitor for and mitigate risk of servicing defects or repurchase exposure during the interim period.
Qualifications: 3+ years of mortgage servicing or post-closing experience required; interim servicing experience preferred. Knowledge of FNMA, Freddie Mac, GNMA servicing guidelines. Experience with Encompass LOS and loan servicing systems strongly preferred. Familiarity with subservicing platforms and practices, especially Cenlar. Strong reconciliation, problem-solving, and analytical skills. High attention to detail and ability to manage multiple deadlines. Excellent communication skills and the ability to work cross-functionally with internal and external partners.
Why Join Novus Home Mortgage?
Novus Home Mortgage, a division of Ixonia Bank, is a dynamic and growing mortgage lender with a national footprint. We pride ourselves on innovative lending, operational excellence, and delivering outstanding borrower experience. This is an exciting opportunity to help shape and lead our interim servicing practices as we continue to grow and evolve.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.
This individual will be a key liaison between internal departments (funding, post-closing, finance, compliance) and external partners (Cenlar, FNMA, FHLMC, GNMA, aggregators), ensuring data accuracy, investor compliance, and exceptional borrower experience during the interim period.
Loan Setup & Monitoring Oversee accurate loan boarding into the interim servicing platform/system. Validate data accuracy between Encompass, LOS, and interim servicing systems. Monitor closed loan pipeline to identify boarding readiness and transfer timing.
Payment Processing & Remittance Track and process interim loan payments received prior to servicing transfer. Ensure accurate application of borrower payments, escrows, and advances. Prepare and submit daily/monthly remittances to investors and custodians as required.
Escrow & Taxes Monitor escrow accounts for disbursement activity prior to servicing transfer. Coordinate timely disbursement of interim tax or insurance bills, if applicable. Ensure proper escrow balance reporting during the transfer process. Respond to inquiries from insurance companies regarding premium renewals
Investor & Subservicer Coordination Work with Cenlar and other subservicers to coordinate service transfer timelines and data validation. Manage MERS updates and servicing release transactions as needed. Collaborate with Delivery & Post-Closing to support GNMA pooling and FNMA/FHLMC certifications. Coordinate with investors and new servicers regarding post transfer issues.
Borrower Communication & Support Respond to borrower inquiries related to payments made during interim servicing. Issue interim welcome letters, payment notices, and servicing transfer notifications in compliance with RESPA and investor guidelines. Reply to borrower inquiries made through incoming calls and emails related to loan transfers and concerns with new servicer.
Reconciliation & Reporting Reconcile custodial and P&I accounts tied to interim-serviced loans. Maintain daily and monthly interim servicing reports for internal tracking and compliance audits. Ensure resolution of suspense items and unapplied funds prior to loan sale.
Compliance & Audit Support Ensure adherence to agency (FNMA, FHLMC, GNMA) interim servicing guidelines and timelines. Support internal and external audit requests for interim servicing activities and documentation. Monitor for and mitigate risk of servicing defects or repurchase exposure during the interim period.
Qualifications: 3+ years of mortgage servicing or post-closing experience required; interim servicing experience preferred. Knowledge of FNMA, Freddie Mac, GNMA servicing guidelines. Experience with Encompass LOS and loan servicing systems strongly preferred. Familiarity with subservicing platforms and practices, especially Cenlar. Strong reconciliation, problem-solving, and analytical skills. High attention to detail and ability to manage multiple deadlines. Excellent communication skills and the ability to work cross-functionally with internal and external partners.
Why Join Novus Home Mortgage?
Novus Home Mortgage, a division of Ixonia Bank, is a dynamic and growing mortgage lender with a national footprint. We pride ourselves on innovative lending, operational excellence, and delivering outstanding borrower experience. This is an exciting opportunity to help shape and lead our interim servicing practices as we continue to grow and evolve.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.